Proterra announced the intention to become publicly listed through a merger transaction with ArcLight Clean Transition Corp.


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Proterra IPO |
Proterra was founded in 2004 by Dale Hill. In July 2019, Reuters reported that the company had “hired investment banks to prepare for an initial public offering (IPO), according to people familiar with the matter” and adding that “the timing of the IPO depended on market conditions.” These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Proterra designs and manufactures zero-emission transit busses. The company has raised approximately $520 million in Venture Capital funding from investors including BMW iVentures, G2VP, Hercules Capital, Tao Capital Partners, GM Ventures, Kleiner Perkins, and Franklin Templeton Investments. Per company press releases, Proterra last raised $155 million in September 2018 at a post-money valuation of $855 million.
Date of Last Funding Round | August 2019 |
Value at Last Round | $1.08 B |
Amount of Last Raise | $75 MM |
Total Funding to Date | $596.32 MM |
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Proterra announced the intention to become publicly listed through a merger transaction with ArcLight Clean Transition Corp.
The special-purpose acquisition company will use $278 million raised through an initial public offering in September as well as $415 million being raised in a private investment in public securities transaction to help finance the deal, regulatory filings show.
Proterra Inc on Tuesday agreed to go public through a merger with ArcLight Clean Transition Corp, in a deal valued at $1.6 billion, including debt, joining several electric vehicle makers that have listed in the last few months.
Proterra Inc., which makes electric buses and batteries, agreed to go public through a merger with special purpose acquisition company ArcLight Clean Transition Corp. The deal represents an enterprise value of $1.6 billion for Proterra and includes $415 million from investors Daimler Trucks, Franklin Templeton, Fidelity Management & Research Co. and funds and accounts from BlackRock, among others, according to a statement.
Proterra, the battery system technology developer for heavy-duty electric vehicles, said it has raised $200 million in a new round of funding. The new cash comes from Cowen Sustainable Investment Advisors, which led the round, along with money from Soros Fund Management, Generation Investment Manag…
U.S. electric bus manufacturer Proterra Inc is considering going public through a merger with a blank-check company, eschewing the traditional initial public offering that it explored last year, according to people familiar with the matter.
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